HomeMy WebLinkAboutMemo Sales tax analysis 09-18-09
MEMORANDUM
Date: September 18, 2009
TO: Honorable Mayor and Council Members
FROM: Debbie Piper, Finance Director & Ben Nibarger, Management Intern
SUBJECT: Sales Tax Analysis
CC: Tom Brymer, Ginger Awtry, Amanda DeGan, Troy Meyer, Jarrod
Greenwood, Kelly Edwards, Eddie Edwards, Todd Wood, Richard Witten
The Town Council requested that the staff research the historical sales tax receipts and
determine the base (recurring) sales tax revenues. The Texas State Comptroller’s office was
contacted and an open records request was filed to release all sales tax receipts and audit
payments to the Town of Westlake from fiscal year 1990. As noted on the attached
schedule, the Town’s sales tax amount increased from 1% to 1.5% in 1995 and maxed out at
2% in 1996. For this reason only revenues received from 1996 have been used in the
analysis.
The data was merged with the Town’s economic development agreement detail to create a
base sales tax record. The tables attached provide a monthly break out of all sales tax
revenues received and the source of the revenue. In addition, the Town’s economic
development agreement payments and the comptrollers audit payments have been removed
from the total sales tax payments in order to determine the recurring sales tax revenue. This
data is overlaid on the attached chart to graphically contrast the amount of recurring sales
tax compared to one time sales tax revenue and audit payments.
With this data, it is possible to statistically analyze the data and create models to predict
future sales tax revenues, but with the huge number of outliers, those numbers that
exceed one or two standard deviations, skew the results. The average annual sales tax
revenue generated, using data from 1996 to 2009, is approximately $1,867,897 with a
standard deviation of $633,440. The large standard deviation of the base sales tax revenue
creates limitations in analysis. Using a 95% confidence interval, the base sales tax revenue
should fall between $1.5 and $2.2 million annually.
As can be seen in the attached chart, it is fairly certain that over time sales tax revenues will
continue to climb but the volatility of the revenue will make predictions, at best, vague and
potentially unreliable.
As we contemplate the sustainability of our revenues in future years, staff believes
that the revenue analysis that we will benefit from the most will be to identify and
track the current and past performance of the “key drivers” of our sales tax revenues
in an attempt to analyze each to determine if we are able to more closely predict what
we will be receiving in the coming years. Tom Brymer will be covering this idea of
tracking key drivers of revenues in his budget/financial sustainability presentation.
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Sales Tax Analysis
SOURCE: State Comptroller Report
HISTORY:10/89Town only1.00%
07/95Town/4B1.50%
10/96Town/4B/4A2.00%
10/06Town/4B/PTR2.00%
Reporting
PeriodDate of Receipt
Total Sales Tax
Payment
Economic
Development
Project
Amount
Received from
Economic
Development
Agreements
Audit
Collections/
Deductions
BASE SALES
TAX (net of ED &
Audits)
Oct-89Dec-89 2,252.64 - 2,252.64
Nov-89Jan-909,083.93 - 9,083.93
Dec-89Feb-907,575.11 - 7,575.11
Jan-90Mar-907,837.89 - 7,837.89
Feb-90Apr-906,889.83 - 6,889.83
Mar-90May-908,771.83 - 8,771.83
Apr-90Jun-905,933.62 - 5,933.62
May-90Jul-906,270.52 - 6,270.52
Jun-90Aug-9020,420.86 - 20,420.86
Jul-90Sep-906,691.07 - 6,691.07
Aug-90Oct-906,490.28 - 6,490.28
Sep-90Nov-9013,019.52 - 13,019.52
101,237.10$ -$ -$ 101,237.10$
Oct-90Dec-905,637.45 - 5,637.45
Nov-90Jan-916,671.16 - 6,671.16
Dec-90Feb-919,437.54 - 9,437.54
Jan-91Mar-918,075.92 - 8,075.92
Feb-91Apr-917,552.63 152.50 7,400.13
Mar-91May-9113,056.44 - 13,056.44
Apr-91Jun-915,293.19 27.31 5,265.88
May-91Jul-919,015.37 5.11 9,010.26
Jun-91Aug-919,018.00 - 9,018.00
Jul-91Sep-918,626.68 - 8,626.68
Aug-91Oct-918,217.81 - 8,217.81
Sep-91Nov-9111,301.11 - 11,301.11
101,903.30$ -$ 184.92$ 101,718.38$
Oct-91 Dec-91 7,693.66 - 7,693.66
Nov-91Jan-92 7,158.00 (4.22) 7,162.22
Dec-91Feb-92 11,550.09 - 11,550.09
Jan-92Mar-92 7,752.78 - 7,752.78
Feb-92Apr-92 6,587.94 - 6,587.94
Mar-92May-92 10,654.29 - 10,654.29
Apr-92Jun-92 6,980.61 - 6,980.61
May-92Jul-92 5,471.47 - 5,471.47
Jun-92Aug-92 10,516.94 - 10,516.94
Jul-92Sep-92 5,949.57 (0.07) 5,949.64
Aug-92Oct-92 5,862.64 - 5,862.64
Sep-92Nov-92 17,051.95 - 17,051.95
103,229.94$ -$ (4.29)$ 103,234.23$
9.17.09
FY 89-90
FY 90-91
FY 91-92
9/17/20093
Sales Tax Analysis
SOURCE: State Comptroller Report
HISTORY:10/89Town only1.00%
07/95Town/4B1.50%
10/96Town/4B/4A2.00%
10/06Town/4B/PTR2.00%
Reporting
PeriodDate of Receipt
Total Sales Tax
Payment
Economic
Development
Project
Amount
Received from
Economic
Development
Agreements
Audit
Collections/
Deductions
BASE SALES
TAX (net of ED &
Audits)
9.17.09
Oct-92Dec-92 5,706.34 - 5,706.34
Nov-92Jan-935,402.22 - 5,402.22
Dec-92Feb-939,557.91 - 9,557.91
Jan-93Mar-9310,479.58 - 10,479.58
Feb-93Apr-936,146.74 - 6,146.74
Mar-93May-939,951.12 - 9,951.12
Apr-93Jun-936,917.30 - 6,917.30
May-93Jul-934,813.39 - 4,813.39
Jun-93Aug-9310,112.20 - 10,112.20
Jul-93Sep-933,549.73 - 3,549.73
Aug-93Oct-936,214.46 16.98 6,197.48
Sep-93Nov-9320,820.29 (265.39) 21,085.68
99,671.28$ -$ (248.41)$ 99,919.69$
Oct-93Dec-937,703.02 - 7,703.02
Nov-93Jan-9415,186.22 - 15,186.22
Dec-93Feb-9414,587.03 - 14,587.03
Jan-94Mar-947,948.71 - 7,948.71
Feb-94Apr-9422,788.14 14.71 22,773.43
Mar-94May-9414,881.30 881.18 14,000.12
Apr-94Jun-946,263.08 72.36 6,190.72
May-94Jul-946,961.92 19.42 6,942.50
Jun-94Aug-9417,501.59 - 17,501.59
Jul-94Sep-9411,441.40 17.57 11,423.83
Aug-94Oct-9413,525.53 (16.75) 13,542.28
Sep-94Nov-9418,498.15 18,498.15
157,286.09$ -$ 988.49$ 156,297.60$
Oct-94 Dec-94 6,650.47 - 6,650.47
Nov-94Jan-95 11,566.75 - 11,566.75
Dec-94Feb-95 20,782.16 (3.23) 20,785.39
Jan-95Mar-95 15,407.47 - 15,407.47
Feb-95Apr-95 10,159.15 - 10,159.15
Mar-95May-95 29,128.30 - 29,128.30
Apr-95Jun-95 14,007.89 0.75 14,007.14
May-95Jul-95 16,089.47 - 16,089.47
Jun-95Aug-95 59,198.29 - 59,198.29
Jul-95Sep-95 13,113.81 54.16 13,059.65
Aug-95Oct-95 34,275.12 534.94 33,740.18
Sep-95Nov-95 87,695.51 406.52 87,288.99
318,074.39$ -$ 993.14$ 317,081.25$
FY 92-93
FY 93-94
FY 94-95
9/17/20094
Sales Tax Analysis
SOURCE: State Comptroller Report
HISTORY:10/89Town only1.00%
07/95Town/4B1.50%
10/96Town/4B/4A2.00%
10/06Town/4B/PTR2.00%
Reporting
PeriodDate of Receipt
Total Sales Tax
Payment
Economic
Development
Project
Amount
Received from
Economic
Development
Agreements
Audit
Collections/
Deductions
BASE SALES
TAX (net of ED &
Audits)
9.17.09
Oct-95Dec-95 66,170.26 (247.07) 66,417.33
Nov-95Jan-96 22,855.17 - 22,855.17
Dec-95Feb-96 91,897.46 358.76 91,538.70
Jan-96Mar-96 47,573.05 - 47,573.05
Feb-96Apr-96 74,784.53 217.58 74,566.95
Mar-96May-96 77,883.19 - 77,883.19
Apr-96Jun-96 49,013.13 0.85 49,012.28
May-96Jul-96 48,352.12 - 48,352.12
Jun-96Aug-96 79,730.98 358.43 79,372.55
Jul-96Sep-96 58,027.53 4.36 58,023.17
Aug-96Oct-96 71,269.99 - 71,269.99
Sep-96Nov-96 107,000.80 - 107,000.80
794,558.21$ -$ 692.91$ 793,865.30$
Oct-96Dec-96 59,366.52 - 59,366.52
Nov-96Jan-97 62,485.61 - 62,485.61
Dec-96Feb-97 311,928.56 1,542.27 310,386.29
Jan-97Mar-97 42,603.90 (19.24) 42,623.14
Feb-97Apr-97 235,761.34 - 235,761.34
Mar-97May-97 216,510.46 - 216,510.46
Apr-97Jun-97 68,419.01 4.65 68,414.36
May-97Jul-97 95,452.06 105.98 95,346.08
Jun-97Aug-97 143,368.27 4.96 143,363.31
Jul-97Sep-97 107,593.88 (5.64) 107,599.52
Aug-97Oct-97 193,172.22 40,884.29 152,287.93
Sep-97Nov-97 117,070.58 1,151.55 115,919.03
1,653,732.41$ -$ 43,668.82$ 1,610,063.59$
Oct-97 Dec-97 133,281.75 - 133,281.75
Nov-97Jan-98 114,582.72 0.99 114,581.73
Dec-97Feb-98 324,639.44 (2.37) 324,641.81
Jan-98Mar-98 157,926.77 - 157,926.77
Feb-98Apr-98 94,745.26 235.19 94,510.07
Mar-98May-98 171,906.34 1,177.96 170,728.38
Apr-98Jun-98 86,965.24 (5,757.73) 92,722.97
May-98Jul-98 481,063.83 (7.04) 481,070.87
Jun-98Aug-98 213,588.28 (537.47) 214,125.75
Jul-98Sep-98 80,842.66 - 80,842.66
Aug-98Oct-98 81,493.64 (34.35) 81,527.99
Sep-98Nov-98 136,909.46 0.06 136,909.40
2,077,945.39$ -$ (4,924.76)$ 2,082,870.15$
FY 96-97
FY 97-98
FY 95-96
9/17/20095
Sales Tax Analysis
SOURCE: State Comptroller Report
HISTORY:10/89Town only1.00%
07/95Town/4B1.50%
10/96Town/4B/4A2.00%
10/06Town/4B/PTR2.00%
Reporting
PeriodDate of Receipt
Total Sales Tax
Payment
Economic
Development
Project
Amount
Received from
Economic
Development
Agreements
Audit
Collections/
Deductions
BASE SALES
TAX (net of ED &
Audits)
9.17.09
Oct-98Dec-98 83,628.67 - - 83,628.67
Nov-98Jan-99 74,566.06 - 8,559.02 66,007.04
Dec-98Feb-99 266,469.94 - (9,913.35) 276,383.29
Jan-99Mar-99 71,243.03 - (9,923.59) 81,166.62
Feb-99Apr-99 46,362.29 - (9,926.92) 56,289.21
Mar-99May-99 112,282.79 - (9,924.69) 122,207.48
Apr-99Jun-99 117,904.22 - (9,926.92) 127,831.14
May-99Jul-99 81,380.53 - (10,085.95) 91,466.48
Jun-99Aug-99 155,308.18 Fidelity I 27.19 (9,926.92) 165,207.91
Jul-99Sep-99 81,266.90 Fidelity I 579.94 (9,926.92) 90,613.88
Aug-99Oct-99 85,033.94 Fidelity I 3,650.63 (9,926.92) 91,310.23
Sep-99Nov-99 206,445.22 Fidelity I10,550.42 (9,057.47) 204,952.27
1,381,891.77$ 14,808.18$ (89,980.63)$ 1,457,064.22$
Oct-99Dec-99 138,442.00 Fidelity I15,813.30 (9,530.33) 132,159.03
Nov-99Jan-00 116,647.27 Fidelity I22,268.31 (10,429.80) 104,808.76
Dec-99Feb-00 142,700.21 Fidelity I26,433.29 9,966.19 106,300.73
Jan-00Mar-00 122,353.13 Fidelity I20,870.78 40.78 101,441.57
Feb-00Apr-00 120,365.79 Fidelity I30,532.29 1,704.16 88,129.34
Mar-00May-00 810,973.37 Fidelity I49,079.45 989.89 760,904.03
Apr-00Jun-00 194,005.32 Fidelity I67,534.38 - 126,470.94
May-00Jul-00 250,382.88 Fidelity I137,166.82 (4.45) 113,220.51
Jun-00 Aug-00 262,273.53 Fidelity I70,854.87 3,404.06 188,014.60
Jul-00Sep-00 269,457.43 Fidelity I118,135.43 1,394.68 149,927.32
Aug-00Oct-00 201,802.16 Fidelity I77,226.57 124,575.59
Sep-00Nov-00 286,632.00 Fidelity I96,426.79 173.39 190,031.82
2,916,035.09$ 732,342.28$ (2,291.43)$ 2,185,984.24$
Oct-00Dec-00 205,432.69 Fidelity I105,887.87 (0.80) 99,545.62
Nov-00Jan-01 93,260.51 Fidelity I43,689.09 (1,252.80) 50,824.22
Dec-00Feb-01 282,209.48 Fidelity I47,244.88 - 234,964.60
Jan-01Mar-01 136,374.25 Fidelity I62,801.20 - 73,573.05
Feb-01Apr-01 141,429.22 Fidelity I22,695.57 9,093.69 109,639.96
Mar-01May-01 163,520.71 Fidelity I 7,622.93 0.01 155,897.77
Apr-01Jun-01 63,845.95 Fidelity I 6,427.95 30.36 57,387.64
May-01Jul-01 136,649.45 Fidelity I 5,732.02 744.50 130,172.93
Jun-01Aug-01 57,487.19 Fidelity I 2,769.99 7,807.34 46,909.86
Jul-01Sep-01 166,210.87 Fidelity I14,843.87 70,552.09 80,814.91
Aug-01Oct-01 65,427.16 Fidelity I 2,897.25 (9,330.32) 71,860.23
Sep-01Nov-01 146,322.63 Fidelity I 1,334.77 (868.13) 145,855.99
1,658,170.11$ 323,947.39$ 76,775.94$ 1,257,446.78$
FY 98-99
FY 99-00
FY 00-01
9/17/20096
Sales Tax Analysis
SOURCE: State Comptroller Report
HISTORY:10/89Town only1.00%
07/95Town/4B1.50%
10/96Town/4B/4A2.00%
10/06Town/4B/PTR2.00%
Reporting
PeriodDate of Receipt
Total Sales Tax
Payment
Economic
Development
Project
Amount
Received from
Economic
Development
Agreements
Audit
Collections/
Deductions
BASE SALES
TAX (net of ED &
Audits)
9.17.09
Oct-01 Dec-01 83,274.76 Fidelity I130.91 (9,404.38) 92,548.23
Nov-01 Jan-02 82,141.82 Fidelity I1,518.30 (10,000.32) 90,623.84
Dec-01 Feb-02 93,284.30 (9,837.35) 103,121.65
Jan-02 Mar-02 137,119.41 (8,836.88) 145,956.29
Feb-02 Apr-02 85,346.88 (9,877.91) 95,224.79
Mar-02 May-02 162,035.78 6,269.76 155,766.02
Apr-02 Jun-02 68,617.63 468.93 68,148.70
May-02 Jul-02 95,436.76 2,329.32 93,107.44
Jun-02 Aug-02 99,011.24 (1,121.95) 100,133.19
Jul-02 Sep-02 70,795.02 (145.52) 70,940.54
Aug-02 Oct-02 57,705.13 1,594.03 56,111.10
Sep-02 Nov-02 146,175.95 1,020.00 145,155.95
1,180,944.68$ 1,649.21$ (37,542.27)$ 1,216,837.74$
Oct-02 Dec-02 70,882.17 - (1,041.01) 71,923.18
Nov-02 Jan-03 177,040.69 - - 177,040.69
Dec-02 Feb-03 522,235.45 - (5,451.24) 527,686.69
Jan-03 Mar-03 148,616.38 - 0.26 148,616.12
Feb-03 Apr-03 81,430.64 - (32.91) 81,463.55
Mar-03 May-03 192,681.61 - - 192,681.61
Apr-03 Jun-03 83,590.75 - (700.28) 84,291.03
May-03 Jul-03 100,773.23 - (1,460.38) 102,233.61
Jun-03 Aug-03 103,803.82 - 3,052.31 100,751.51
Jul-03 Sep-03 81,423.45 - 240.01 81,183.44
Aug-03 Oct-03 458,794.35 - 404,690.43 54,103.92
Sep-03 Nov-03 364,787.89 - 202,088.25 162,699.64
2,386,060.43$ -$ 601,385.44$ 1,784,674.99$
Oct-03 Dec-03 83,099.17 - (141.00) 83,240.17
Nov-03 Jan-04 63,981.91 - 32.59 63,949.32
Dec-03 Feb-04 324,321.74 - 580.02 323,741.72
Jan-04 Mar-04 380,267.52 - 219,624.12 160,643.40
Feb-04 Apr-04 68,476.87 - 57.27 68,419.60
Mar-04 May-04 97,161.63 - 140.58 97,021.05
Apr-04 Jun-04 87,260.33 - (919.46) 88,179.79
May-04 Jul-04 74,411.46 - 127.39 74,284.07
Jun-04 Aug-04 190,715.43 55.82 190,659.61
Jul-04 Sep-04 107,636.26 2,842.56 104,793.70
Aug-04 Oct-04 120,323.55 - (2,407.27) 122,730.82
Sep-04 Nov-04 167,715.10 29,277.59 138,437.51
1,765,370.97$ -$ 249,270.21$ 1,516,100.76$
FY 01-02
FY 02-03
FY 03-04
9/17/20097
Sales Tax Analysis
SOURCE: State Comptroller Report
HISTORY:10/89Town only1.00%
07/95Town/4B1.50%
10/96Town/4B/4A2.00%
10/06Town/4B/PTR2.00%
Reporting
PeriodDate of Receipt
Total Sales Tax
Payment
Economic
Development
Project
Amount
Received from
Economic
Development
Agreements
Audit
Collections/
Deductions
BASE SALES
TAX (net of ED &
Audits)
9.17.09
Oct-04 Dec-04 149,063.31 23,438.58 125,624.73
Nov-04 Jan-05 138,067.76 2,187.46 135,880.30
Dec-04 Feb-05 327,539.08 96.80 327,442.28
Jan-05 Mar-05 153,962.51 417.27 153,545.24
Feb-05 Apr-05 78,904.33 5,860.01 73,044.32
Mar-05 May-05 265,534.65 143.93 265,390.72
Apr-05 Jun-05 97,850.82 11.03 97,839.79
May-05 Jul-05 129,006.27 5,725.08 123,281.19
Jun-05 Aug-05 196,367.09 - 196,367.09
Jul-05 Sep-05 199,496.51 244.81 199,251.70
Aug-05 Oct-05 108,076.47 (22.22) 108,098.69
Sep-05 Nov-05 145,352.80 60.04 145,292.76
1,989,221.60$ -$ 38,162.79$ 1,951,058.81$
Oct-05 Dec-05 140,846.59 501.21 140,345.38
Nov-05 Jan-06 200,403.74 First American13,351.10 189.63 186,863.01
Dec-05 Feb-06 781,023.14 First American13,406.03 78.40 767,538.71
Jan-06 Mar-06 314,850.53 - 66.77 314,783.76
Feb-06 Apr-06 384,345.81 First American24,578.38 1,025.49 358,741.94
Mar-06 May-06 178,346.49 First American5,802.30 364.78 172,179.41
Apr-06 Jun-06 283,876.05 First American196,503.97 183.07 87,189.01
May-06 Jul-06 107,090.41 - 8,399.26 98,691.15
Jun-06 Aug-06 387,700.12 First American88,429.29 36,677.72 262,593.11
Jul-06 Sep-06 203,836.61 First American23,580.74 (743.80) 180,999.67
Aug-06 Oct-06 270,211.00 First American9,080.35 (3.48) 261,134.13
Sep-06 Nov-06 368,883.00 First American26,312.25 34.13 342,536.62
3,621,413.49$ 401,044.41$ 46,773.18$ 3,173,595.90$
Oct-06 Dec-06 205,292.93 First American12,275.56 778.01 192,239.36
Nov-06 Jan-07 399,674.97 First American 29.74 145,234.49 254,410.74
Dec-06 Feb-07 300,322.01 First American10,435.29 6,874.35 283,012.37
Jan-07 Mar-07 273,649.75 First American (67.44) (8,398.60) 282,115.79
Feb-07 Apr-07 173,331.54 First American(7,216.75) (41,280.55) 221,828.84
Mar-07 May-07 391,954.26 First American11,345.44 196,415.50 184,193.32
Apr-07 Jun-07 173,901.40 - 173,901.40
May-07 Jul-07 146,927.05 First American(1,673.90) 148,600.95
Jun-07 Aug-07 227,271.21 First American(4,418.16) 458.20 231,231.17
Jul-07 Sep-07 205,058.60 - 8.62 205,049.98
Aug-07 Oct-07 177,795.62 - (470.06) 178,265.68
Sep-07 Nov-07 255,162.48 Fidelity II 7,805.15 179.52 247,177.81
2,930,341.82$ 28,514.93$ 299,799.48$ 2,602,027.41$ FY 06-07
FY 05-06
FY 04-05
9/17/20098
Sales Tax Analysis
SOURCE: State Comptroller Report
HISTORY:10/89Town only1.00%
07/95Town/4B1.50%
10/96Town/4B/4A2.00%
10/06Town/4B/PTR2.00%
Reporting
PeriodDate of Receipt
Total Sales Tax
Payment
Economic
Development
Project
Amount
Received from
Economic
Development
Agreements
Audit
Collections/
Deductions
BASE SALES
TAX (net of ED &
Audits)
9.17.09
Oct-07 Dec-07 226,317.75 Fidelity II18,840.99 9,309.59 198,167.17
Nov-07 Jan-08 329,418.32 Fidelity II33,631.81 (26,618.50) 322,405.01
Dec-07 Feb-08 308,194.03 Fidelity II38,492.20 (60,056.54) 329,758.37
Jan-08 Mar-08 281,542.48 Fidelity II36,124.59 37.15 245,380.74
Feb-08 Apr-08 137,959.80 Fidelity II49,791.09 54.63 88,114.08
Mar-08 May-08 280,427.72 Fidelity II62,018.43 21.63 218,387.66
Apr-08 Jun-08 318,416.67 Fidelity II135,022.48 1,638.36 181,755.83
May-08 Jul-08 273,588.26 Fidelity II117,849.17 4.39 155,734.70
Jun-08 Aug-08 361,809.13 Fidelity II118,896.11 39,096.37 203,816.65
Jul-08 Sep-08 329,883.64 Fidelity II78,165.55 2,228.84 249,489.25
Aug-08 Oct-08 308,333.52 Fidelity II118,811.12 341.44 189,180.96
Sep-08 Nov-08 434,682.96 Fidelity II103,176.46 125,354.90 206,151.60
3,590,574.28$ 910,820.00$ 91,412.26$ 2,588,342.02$
Oct-08 Dec-08 254,631.08 Fidelity II83,808.34 3,541.42 167,281.32
Nov-08 Jan-09 906,665.77 Fidelity II62,274.56 698,693.08 145,698.13
Dec-08 Feb-09 372,847.42 Fidelity II46,336.44 43.35 326,467.63
Jan-09 Mar-09 231,942.68 Fidelity II57,623.07 1,006.28 173,313.33
Feb-09 Apr-09 181,180.92 Fidelity II24,661.00 2.20 156,517.72
Mar-09 May-09 239,753.84 Fidelity II23,084.24 5,429.90 211,239.70
Apr-09 Jun-09 177,320.11 Fidelity II36,110.92 4,604.65 136,604.54
May-09 Jul-09 167,448.60 Fidelity II 6,526.38 3,397.15 157,525.07
Jun-09 Aug-09 290,449.50 2,218.62 288,230.88
Jul-09 Sep-09 141,114.36 326.22 140,788.14
Aug-09 Oct-09 - - -
Sep-09 Nov-09 - -
2,963,354.28$ 340,424.95$ 719,262.87$ 1,903,666.46$
FY 07-08
FY 08-09
9/17/20099